House Bill 1767

(As Sent to Governor)

AN ACT TO AUTHORIZE THE LOWNDES COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY TO PERFORM CERTAIN ACTS FOR COMMERCIAL DEVELOPMENT
PURPOSES; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION
1. (1) The Lowndes County Industrial Development Authority, in its
discretion, may acquire by gift, purchase or otherwise, and own, hold,
maintain, control and develop real estate situated within Lowndes County,
Mississippi, either within or without the corporate limits of a municipality,
for purposes of industrial and/or commercial development, use and
operation. The authority also may
engage in works of internal improvement, including, but not limited to,
construction or contracting for the construction of streets, roads, railroads,
site improvements, water, sewerage, drainage, pollution and other related
facilities necessary or required for industrial and/or commercial use and
development within Lowndes County, and may acquire, purchase, install, lease,
construct, own, hold, equip, control, maintain, use, operate and repair other
structures and facilities necessary and convenient for the planning,
development, use, operation and maintenance within the county for industrial
and/or commercial purposes, including, but not limited to, utility
installations, elevators, compressors, warehouses, air, rail, and other
transportation terminals and pollution control facilities.

(2)
The Lowndes County Industrial Development Authority, in its discretion,
may sell, lease, trade, exchange or otherwise dispose of industrial and/or
commercial sites situated within Lowndes County to individuals, firms or
corporations, public or private, for industrial and/or commercial use upon such
terms and conditions, for consideration and with safeguards, as will best
promote and protect the public interest, convenience and necessity. Further, the authority may execute deeds,
leases, contracts, easements and other legal instruments necessary or
convenient for carrying out the purposes of this act.

(3)
The Lowndes County Industrial Development Authority, in its discretion,
may fix and prescribe fees, charges and rates for the use of any water,
sewerage, pollution or other facilities constructed and operated within Lowndes
County and may collect the same from persons, firms and corporations using the
same for industrial and/or commercial purposes.

(4)
The Lowndes County Industrial Development Authority may employ
engineers, attorneys, accountants, consultants and such personnel as shall be
reasonably necessary to carry out the duties and authority granted by this act.

(5)
For the purposes of carrying out the authority granted under this act,
the Lowndes County Industrial Development Authority, in its discretion, may
borrow money and issue negotiable promissory notes evidencing the same under
the general authority to issue bonds and notes granted to industrial
development authorities under Sections 57-31-9 through 57-31-27, Mississippi
Code of 1972. In addition, the
authority may secure such notes by the execution of a deed of trust upon any
real estate belonging to the authority not otherwise encumbered.

(6)
(a) Any sale, lease, trade,
exchange or other disposition of industrial and/or commercial sites by the
Lowndes County Industrial Development Authority may be made, completed or
executed upon such terms and conditions, and for such monetary or other
consideration as may be found adequate and approved by the authority, in orders
or resolutions authorizing the same, subject to paragraphs (b) and (c) of this
subsection.

(b)
In cases involving the lease of industrial and/or commercial sites, any
covenants and obligations of the lessee to make expenditures in determined
amounts, and within such time or times, for improvements to be erected on the
land by such lessee and to conduct thereon industrial and/or commercial
operations in such aggregate payroll amounts and for such period of time or
times as may be determined by the authority and defined in the transaction
documents, and to give preference in employment where practicable to qualified
residents of the county, shall constitute and be deemed, if included in the
transaction documents, sufficient consideration for the execution of any such
transaction document in the absence of monetary or other consideration. A lease may contain reasonable provisions
giving the lessee the right to remove its or his improvements upon termination
of the lease.

(c)
In cases other than a lease of an industrial and/or commercial site, any
covenants and obligations of the grantee to make expenditures in determined
amounts, and within such time or times, for improvements to be erected on the
land by such grantee and to conduct thereon industrial and/or commercial
operations in such aggregate payroll amounts and for such period of time or
times as may be determined by the authority and defined in the transaction
documents, and to give preference in employment where practicable to qualified
residents of the county, shall constitute and be deemed, if included in the
transaction documents, sufficient consideration for the execution of any such
transaction document in the absence of monetary or other consideration;
however, the title to the property shall be transferred by a lease-purchase
agreement with the stipulation that the conditions included in the transaction
documents must be met to the satisfaction of the authority in order for the
sale, trade, exchange or other disposition of the industrial and/or commercial
site to be finally consummated.

(7)
In carrying out the authority granted under this act to perform certain
acts for commercial development purposes, the Lowndes County Industrial
Development Authority, in its discretion, may exercise those rights and powers,
subject to any prescribed conditions or limitations, granted to county
industrial development authorities for industrial development purposes under
Chapter 31, Title 57, Mississippi Code of 1972.

SECTION
2. This act shall take effect and
be in force from and after its passage.